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HomeFUNDINGImmVira Announces US$10 million Strategic Series B Plus Financing with SIIC Capital

ImmVira Announces US$10 million Strategic Series B Plus Financing with SIIC Capital

September 23, 2020

ImmVira Group Company, a biotechnology company focused on the development of new generation oncolytic viruses as potential cancer therapeutics today announced the signing of US$10 million Series B Plus strategic financing.

ImmVira Group reports this round of financing will be exclusively funded by Shanghai Healthcare Capital (“SHC”), managed by SIIC Capital, where Shanghai Pharma is one of the founding strategic cornerstone LPs.

In August 2020, ImmVira and Shanghai Pharma announced a clinical collaboration and exclusive license agreement for ImmVira’s MVR-T3011 intratumoral oncolytic virus program for the commercialization of novel immunotherapies to treat solid malignant tumors.

“We warmly welcome SHC to be our strategic investor,” said Grace Zhou, Chairman, and CEO of ImmVira. “This investment further deepens our collaboration in the MVR-T3011 intratumoral program and highlights the commitment from the parties to the program’s commercial success. Investment from one of the country’s leading integrated pharma and healthcare fund is also a promising validation to the approach of using genetically modified oncolytic virus as an effective remedy to treat cancer.”

“ImmVira is a leader in providing best-in-class oncolytic virotherapy treatments for patients in need. We are pleased with the progress on the MVR-T3011 intratumoral program and now also take an important stake as a shareholder,” said David Liu, CEO of SHC. “In-line with our dedication to promoting the biopharmaceutical industry in China, we look forward to making a strategic investment with best-in-class innovators like ImmVira and would like to expand our portfolio to include more rising life science companies like ImmVira.”

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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